About the Secretary

Steven Terner Mnuchin was sworn in as the 77th Secretary of the Treasury on February 13, 2017. As Secretary, Mr. Mnuchin is responsible for the U.S. Treasury, whose mission is to maintain a strong economy, foster economic growth, and create job opportunities by promoting the conditions that enable prosperity at home and abroad.

WASHINGTON – Today, the U.S. Department
of the Treasury announced a settlement with Fokker Services B.V. (FSBV), The
Netherlands, of the company’s potential $51 million civil liability in
connection with alleged violations of U.S. sanctions on Iran and Sudan. Today’s
action is the result of an exhaustive investigation by Treasury’s Office of
Foreign Assets Control (OFAC) along with other Federal agencies. As part of the
settlement, FSBV will satisfy its liability with the payment of a $10.5 million
civil monetary penalty to OFAC and the Department of Commerce’s Bureau of
Industry and Security (BIS), a forfeiture of an additional $10.5 million
pursuant to a deferred prosecution agreement reached with the Department of
Justice’s U.S. Attorney’s Office for the District of Columbia (USAO), and the
acceptance of responsibility for its egregious conduct involving over 1,150
alleged violations of U.S. sanctions.

“By
illegally exporting aircraft spare parts to designated countries, FSBV
flagrantly violated U.S. sanctions laws and this illicit activity will not be
tolerated,” said OFAC Director Adam J. Szubin. “Treasury is committed to
holding accountable anyone who undermines those efforts and to deterring others
from undertaking similar conduct.”

From
2005 to 2010, FSBV indirectly exported or re-exported aircraft spare parts to
Iranian or Sudanese customers, which FSBV either specifically procured from or
had repaired in the United States, or that were U.S-origin and required the
issuance of a license by a Federal agency at the time of shipment.

The
actions addressed in today’s settlement include 1,112 apparent violations of the
Iranian Transactions and Sanctions Regulations, 31 C.F.R. part 560, and 41
apparent violations of the Sudanese Sanctions Regulations, 31 C.F.R. part 538.

As is
standard practice, OFAC worked closely with its counterparts at other government
agencies in the investigation of this matter. This settlement of FSBV’s
potential civil liability of $51 million is satisfied by a $10.5 million civil
penalty paid jointly to OFAC and BIS, a $10.5 million forfeiture pursuant to a
deferred prosecution agreement with the USAO, FSBV’s acceptance of
responsibility for its criminal conduct and that of its employees, and adherence
to all settlement conditions imposed by the Federal agencies
involved.